Reputation is harmed when some other issue makes reputation an issue. It’s nice to add reputation risk to your risk register, but what are you going to do about it? What actions will you take to proactively avoid, transfer or mitigate your reputation or your brand? What could Tiger Woods’ risk manager have done to [...]
Posts Tagged ‘risk treatment’
Tiger Woods reputation risk
Posted in ERM Basics, Humour, Risk management, tagged reputation risk, risk treatment, root cause, Tiger Woods on December 12, 2009 | 2 Comments »
Fantastic Mr. Fox risk management
Posted in Humour, My Opinions, Risk management, tagged ERM, impact, likelihood, Mr Fox, risk treatment on December 7, 2009 | Leave a Comment »
I took my kids to see the Fantastic Mr. Fox movie this weekend. I thought it was quite delightful. I highly recommend it even if you do not have kids because an animated George Clooney is fantastic. For those of you familiar with the book, it is quite different but in many respects very much [...]
Twilight risk management
Posted in Books, ERM Basics, Humour, tagged Bella Swan, Edward Cullen, New Moon, risk management, risk treatment, Twilight on November 17, 2009 | 4 Comments »
With New Moon, the second installment of the Twilight movie saga set to come out this week, I thought I would examine four types of risk treatments from the Edward Cullen point of view. They are ACCEPT, AVOID, TRANSFER and MITIGATE. (Spoiler alert! Stop now if you haven’t read the books and actually care about [...]
Reputation risk and Tylenol
Posted in Risk management, Thought Leadership, tagged mitigate, reputation risk, risk treatment, Tylenol on November 12, 2009 | Leave a Comment »
The Riskczar Philosophy on reputation risk is that it is a second order risk. This means the risk to your reputation or brand is not something that can be directly mitigated or insured against, it is harmed when some other “up stream” event occurs. You cannot actually prevent reputation risk, but you can prevent the [...]
Hello. This is MARTA.
Posted in ERM Basics, Frameworks, Humour, tagged MARTA, risk treatment, Scarface on November 2, 2009 | Leave a Comment »
In part two of my shout out to Antony Marcano’s blog, he uses the acronym MARTA to describe the five different forms of risk treatment: mitigate, avoid, reduce, transfer and accept. The complete post can be found here http://www.testingreflections.com/node/view/8321 Of course when I read the acronym, MARTA, it immediately made me think of the character [...]
Marcano rants about the misuse of “mitigate”
Posted in ERM Basics, tagged 4360, Felix Kloman, MARTA, risk treatment on November 2, 2009 | 2 Comments »
I came across a great post by Antony Marcano who rants about the misuse of the word “mitigate”. (For your information, this post is considered great because I agree with it.) You can read his entire post here: http://www.testingreflections.com/node/view/8138 Mr. Marcano, a “lover of language”, dislikes it that mitigate is over used as a risk [...]
Dishwasher risk management
Posted in ERM Basics, Uncategorized, tagged dishwasher, ERM, Freakonomics, risk treatment on August 25, 2009 | 5 Comments »
In the book Freakonomics, the authors present data to support the fact that more children are killed by drowning in backyard pools than by handguns. However, as parents we are more likely to not permit our kids to go to Billy’s house because his dad has a handgun than to Suzie’s house because she has [...]
Please do not mitigate all your risks
Posted in ERM Basics, Frameworks, tagged insurance, risk treatment on August 24, 2009 | Leave a Comment »
I am not a big fan of the term “mitigation” as the only way for a risk to become a lesser risk. Mitigating a risk is merely one way to “treat” the risk and hence, I recommend using the term “risk treatment” instead. Of course mitigating an inherent risk so there is less residual risk [...]
Reputation Risk is not a Risk
Posted in My Opinions, Risk management, tagged enterprise risk, reputation risk, risk treatment on August 18, 2009 | Leave a Comment »
Reputation risk is a second order risk. It is caused by some other risk event. Coke cannot go out and buy some reputation risk insurance but it can try to ensure that it’s factories don’t stop working or rat droppings don’t show up in its beverages. These can be treated or controlled. It is only [...]
